TOKYO: Internet investor Softbank Corp announced yesterday it would cut its majority stake in Yahoo Japan Corp to fund its fledgling broadband service.
The planned sale of 40,000 shares or an 8% stake in Japan's largest Web portal would raise US$623mil at current market value. It would be the latest asset sale by Softbank in its transformation from a once high-flying Internet investor to a provider of high-speed Internet service.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
